Al-Qasabi: Merging the competitiveness and business centers to enhance the investment environment
In a strategic move aimed at unifying government efforts and improving the business environment in the Kingdom of Saudi Arabia, His Excellency the Minister of Commerce and Chairman of the Board of Directors of the National Competitiveness Center and the Saudi Center for Economic Business, Dr. Majid bin Abdullah Al-Qasabi, affirmed that the Cabinet’s decision to merge the two centers under the name “Saudi Center for Competitiveness and Business” represents a qualitative leap in the economic reforms taking place in the Kingdom.
Enhancing efficiency and standardizing reference points
Al-Qasabi explained that this merger comes at a crucial time, aligning with the goals of the Kingdom's Vision 2030. The new entity will contribute to enhancing the Kingdom's competitiveness and development, and improving its ranking in relevant international indicators and reports. He pointed out that unifying the regulatory framework into a single entity will eliminate duplication of roles and expedite decision-making related to improving the business environment, which will positively impact the attractiveness of the Saudi market for both local and foreign investments.
6,000 government services under one roof
In discussing the operational impact of the decision, His Excellency explained that the Saudi Competitiveness and Business Center will build upon its previous achievements, offering more than 6,000 government services tailored to the business sector. This will be achieved through integration with all relevant government entities to ensure the highest levels of quality and innovation in service delivery. Investors and entrepreneurs will be able to access these services through the unified digital business platform, in addition to the 20 physical branches located in 15 cities across the Kingdom, guaranteeing comprehensive access and streamlined procedures.
Economic and developmental dimensions of the decision
This decision addresses previous challenges facing the private sector. Al-Qasabi indicated that merging the two centers will unify the channels for monitoring challenges and obstacles facing investors. The new center will implement structural and procedural reforms aimed at facilitating the start and operation of economic activities. This step is a cornerstone in transforming the Kingdom into a global logistics and trade hub by adopting international best practices in regulation and legislation.
Global partnerships and knowledge transfer
Dr. Al-Qasabi concluded his statement by emphasizing that the center will work in close partnership with the public and private sectors to ensure the Kingdom ranks among the most globally competitive nations. The new center will also focus on maximizing partnerships with international organizations to exchange expertise and transfer knowledge, aiming to make Saudi Arabia's business environment a global model of quality, efficiency, and effectiveness in government services, thereby fostering sustainable and diversified economic growth.
